2026 Philippine energy crisis

Common card · No. 375654

Since late February 2026, the closure of the Strait of Hormuz during the 2026 Iran war disrupted roughly 20 percent of the world's oil supply, triggering a global economic downturn and fuel shortages. The Philippines, which imports most of its oil from the Middle East, was particularly vulnerable to supply disruptions because of its heavy dependence on imported petroleum. On March 23, Claire Castro, press officer of the Office of the President of the Philippines, said the country was experiencing a "price disruption" caused by the conflict in the Middle East but was not yet facing an oil crisis. Her remarks were echoed by Energy Secretary Sharon Garin. The same day, President Bongbong Marcos ordered the creation of a crisis committee to maintain economic stability and ensure the continued delivery of essential resources, including supplies for schools. On March 24, Marcos declared a state of national energy emergency, stating that the country had sufficient crude oil supplies until June...

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